Tag: Debates

Bitcoin Ordinals community debates fix after inscription validation bug

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A few solutions are being discussed to fix a code bug found in the Bitcoin (BTC)-native Ordinals protocol which has prevented over 1,200 inscriptions from being validated. While nearly every member of the Ordinals community agrees that these inscription requests should be reincluded, the community is debating whether they should be added retroactively or not. The bug came from the indexer function of the protocol only counting inscriptions that were in the first input of a transaction submitted up to and including version 0.5.1 of the protocol. One prominent Ordinals…

Twitter debates the role of renewable energy in Bitcoin mining

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It all started with a tweet by Dennis Porter, podcast host and self-described Bitcoin advocate, that led to a heady discussion about renewable energy and the role of Bitcoin miners. Porter asserted that Bitcoin (BTC) creates incentives to build out renewables, but environmental scientist Peter Gleick rebuffed the statement as a “self-serving lie.”  The comments section got heated when Nic Carter, Castle Island Ventures general partner and Coin Metrics co-founder, entered the chat and called out Gleick for allegedly not knowing anything about energy.  Tell me you don’t know anything about…

Wikimedia Foundation Debates Acceptance of Cryptocurrency Donations Over Environmental Concerns – Bitcoin News

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Following Mozilla’s decision to pause crypto donations due to environmental concerns, a number of Wikimedia Foundation community members have submitted a proposal that asks the foundation to stop accepting digital currency donations. The proposal explains that crypto donations “signals [an] endorsement of the cryptocurrency space,” and also says that “Cryptocurrencies may not align with the Wikimedia Foundation’s commitment to environmental sustainability.” Proposal Claims Cryptocurrencies May Not Align With the Wikimedia Foundation Members of the Wikimedia Foundation are voting on a proposal that could stop the foundation from accepting digital currencies…

Bitcoin skeptic debates Bloomberg analyst in latest Cointelegraph Crypto Duel

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In a recent video debate, Bitcoin skeptic Frances Coppola debated Bloomberg senior commodity strategist Mike McGlone on the economics of Bitcoin, market manipulation and predictions for 2021.  Coppola is skeptical that Bitcoin will ever succeed as a store of value because of its high volatility which, according to her, is a direct consequence of the asset’s fixed supply rate. “With a fixed rate of increase of supply (…) the only thing that can adjust to changes in demand is price”, she explained. Demand fluctuations mean Bitcoin’s volatility is here to…

Six Months Later, Bitcoin Community Finally Debates How to Activate Taproot

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The Taproot upgrade represents one of the most significant developments for Bitcoin’s mainchain in recent months. Despite seeing very little controversy, the community is still debating on the proper procedure on how to implement it more than six months after the BIPs were published. The issues stem from the necessity of conducting a soft fork that would be accepted by all relevant stakeholders. According to a Reddit thread pinned in the r/Bitcoin community, “the biggest problem with activating Taproot is PTSD from the previous softfork, SegWit.” History of SegWit SegWit…

Dow Stumbles as Wall Street Debates the Case for Negative Rates

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The Dow Jones stumbled on Thursday after another dire jobless claims report. Speculative trading is dominating retail investment platforms, while seasoned stock market investors sit on the sidelines. The Federal Reserve may discuss negative rates this month. The Dow Jones went nowhere on Thursday after another miserable jobless claims report snapped the U.S. stock market’s weeklong rally. As the employment crisis deepens in the United States, it seems more and more likely the Federal Reserve could turn to negative interest rates. Dow Jones Backtracks After Lockdown Layoff Toll Ticks Past…

Ethereum Community Debates Raising the Block Size Limit, Once Again

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Continuing congestion on the Ethereum (ETH) network has led some developers and community members to call for increasing the gas limit, which defines its transaction throughput. Data from Etherscan shows that the average gas price rose more than three-fold since early May, with an average of about 30 Gwei in the last few days.   Source: Etherscan.io According to EthGasStation, this results in an average of a $0.16 fee to send a simple ETH transaction, which uses the least gas possible. ERC-20 token transfers and smart contract calls can cost…